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Crypto

DAXA flags 12 illegal digital asset operators, requests police investigation

The Digital Asset Exchange Alliance (DAXA) said it identified 12 illegal digital asset operators and asked police to investigate. DAXA said some operators charged fees as much as 62 times higher than domestic exchanges and demanded personal data such as ID cards and bankbook copies without legal grounds. The three-month probe, conducted with reported virtual asset service providers, targeted businesses that failed to report to the Financial Intelligence Unit under the Specific Financial Information Act.

Crypto

Coinbase restarts rupee transfer service in India

Coinbase has launched direct rupee deposits and withdrawals in India. Users can move rupees between local bank accounts and Coinbase via the Immediate Payment Service (IMPS). They can also use spot trading, perpetual futures and advanced trade on one platform. The move aligns with Coinbase’s plan to expand again in India after halting UPI-based deposits in 2022. Coinbase registered with India’s FIU in March 2025, saying it gained a formal basis under AML rules.

Crypto

Eyes on amended AML enforcement decree as industry fears burden from digital asset rules

South Korea\'s digital asset industry is watching proposed amendments to enforcement and supervisory rules under the Special Financial Information Act set to take effect in August. The draft strengthens screening requirements for reporting by digital asset service providers and expands anti-money laundering duties for transfers. It would extend the travel rule to transfers under 1 million won and require additional steps for receiving providers. It also sets reporting duties for certain overseas transfers and tightens customer verification and entry reviews.